Stocks Closed Higher After Factory Orders Data

U.S. stocks finished modestly higher Monday, after a report on factory orders, which rose 2.1% in March, generally in line with expectations. The Dow Jones Industrial Average gained 46.34 points, or 0.26%, to 18,070.40. The S&P 500 was up 6.20 points, or 0.29%, to 2,114.49. The Nasdaq Composite added 11.54 points, or 0.23%, to 5,016.93.

New orders for U.S. factory goods recorded their biggest increase in eight months in March. New orders for manufactured goods increased 2.1 percent, the largest gain since July last year, after dipping 0.1 percent in February. It was the first rise since last August and was buoyed by a 13.5 percent jump in orders for transportation equipment.

Comcast’s quarterly results beat expectations Monday and the cable giant boosted its buyback program by $2.5 billion.

Brent oil hit a 2015 high before settling down with U.S. crude on Monday as Saudi Arabia’s plan to halt bombing in Yemen eased tensions over the security of oil Middle East supplies. U.S. crude (CLc1) settled down 22 cents at $58.93.